Europe Animal Feed Additives Market Growth and Size, Trends, Demand, CAGR Status, Challenges, Future Investment and Opportunities till 2033: SPER Market Research
Europe Animal Feed Additives Market is projected to be worth USD 13918.35 million by 2033 and is anticipated to surge at a CAGR of 5.15%.
Anthonytone
Animal feed additives are nutritional chemicals that are included into livestock feed. Feed additives include amino acids, minerals, and various other substances. Amino acids are essential for many bodily functions, including digestion, reproduction, and metabolism. Methionine is an amino acid that is mostly used in the poultry sector, whereas lysine is used in the pork industry.
According to SPER market research, ‘Europe Animal Feed Additives Market Size - By Additive Type, By Livestock, By Form, By Function - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Animal Feed Additives Market is predicted to reach USD 13918.35 million by 2033 with a CAGR of 5.15%.
Drivers:
The animal feed additives industry is being driven by increased awareness of the benefits of feeding protein-rich diets to farmed animals. Feed additives are mineral, protein, and vitamin-rich substances used to aid in animal growth. Animal health issues are always evolving, increasing the demand for feed additives that reduce the likelihood of weight loss, sickness, and infections in animals. Agricultural practitioners and governments in various developing countries are collaborating to apply strategies to improve animal productivity and product quality through diet in order to boost profitability. Feed additives improve animal health while also increasing productivity and the quality of byproducts.
Challenges:
Variations in the cost of raw materials used to make feed additives are expected to affect production costs. Commodity price fluctuations, such as minerals and cereals, make it difficult for enterprises to keep expenditures under control.
Consumer concerns about chemical residues in animal products have resulted in increased demand for feed additives with low residue levels. This has resulted in a shift towards organic and natural substances. It also presents challenges for companies who utilise synthetic additives.
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The industry for additives used in animal feed has been significantly impacted by the Covid-19 outbreak. Travel restrictions, economic uncertainty, and disruptions in the supply chain have all affected market dynamics. The livestock industry has faced challenges such fluctuating demand for animal products, manpower shortages, and the cost and availability of feed ingredients. The pandemic has, however, caused the industry to pay more attention to the nutrition and health of animals, which has increased demand for feed additives that support immune system function and overall animal wellbeing.
The market for animal feed additives in Europe is dominated by Germany. Its highly developed livestock industry, especially in the production of pigs and poultry, significantly increases demand for feed additives to improve animal productivity and health. Furthermore, some of the market's leading players include Adisseo, Alltech, Inc, Archer Daniel Midland Co, BASF SE, Cargill Inc, Evonik Industries AG, and Others.
Europe Animal Feed Additives Market Segmentation:
By Additive Type: Based on the Additive Type, Europe Animal Feed Additives Market is segmented as; Antioxidants, Feed enzymes, Feed acidifiers, Vitamins, Minerals, Binders, Antibiotics, Amino acids, Others.
By Livestock: Based on the Livestock, Europe Animal Feed Additives Market is segmented as; Swine, Ruminants, Poultry, Aquatic Animals, Others.
By Form: Based on the Form, Europe Animal Feed Additives Market is segmented as; Dry, Liquid, Others.
By Function: Based on the Function, Europe Animal Feed Additives Market is segmented as; Single Function, Multifunction.
By Region: This research includes data for Germany, France, Italy, UK, Russia, and the Rest of Europe.
For More Information, refer to below link: -
Europe Animal Feed Additives Market Outlook
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